HomeMy WebLinkAboutOrdinance 26582-11-2023 Ordinance No. 26582-11-2023
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE CULTURE AND TOURISM FUND IN THE AMOUNT
OF $1,440,237.00, BY INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE HOT 7% AND OTHER REVENUES IN THE
AMOUNT OF $3,992,971.67. AND DECREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE USE OF FUND BALANCE IN THE AMOUNT OF
$2,552,734.67; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2022-2023 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in the Culture
And Tourism Fund in the amount of$1,440,237.00,by increasing estimated receipts and appropriations in the
HOT 7% and other revenues in the amount of $3,992,971.67; and decreasing estimated receipts and
appropriations in the use of fund balance in the amount of$2,552,734.67.
SECTION 2.
That should any portion,section or part of a section of this ordinance be declared invalid,inoperative or void
for any reason by a court of competent jurisdiction,such decision,opinion or judgment shall in no way impair
the remaining portions,sections,or parts of sections of this ordinance,which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 25773-09-2022 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations,in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY: CITY SECRETARY
Jannette S. Goodall
Assistant City Attorney City Secretary
ADOPTED AND EFFECTIVE:November 14, 2023
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 11/14/23 M&C FILE NUMBER: M&C 23-0967
LOG NAME: 25C&TFY2023OPERATINGWINDUP
SUBJECT
(ALL)Adopt Appropriation Ordinance Adjusting the Fiscal Year 2023 Operating Budget in the Culture and Tourism Fund to$55,866,900.00;
Eliminate Capital Appropriations in the Culture and Tourism Capital Projects Fund for the Will Rogers Memorial Center Sheep&Swine Barn
Renovation Project, Reverse Transfers to the Culture and Tourism Fund Unappropriated Balance and Amend the Fiscal Years 2023-2027 Capital
Improvement Program
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Culture and Tourism Fund in the amount
of$1,440,237.00 by increasing estimated receipts and appropriations in the hotel occupancy tax(HOT 7%)and other revenues in the
amount of$3,992,971.67 and decreasing estimated appropriations in the use of fund balance in the amount of$2,552,734.67, for an
amended Fiscal Year 2022-2023 budget of$55,866,900.00;and
2. Eliminate appropriations in the Will Rogers Memorial Center Sheep and Swine Barn Renovation Project(City Project No. 104828)of the
Culture and Tourism Capital Projects Fund in the amount of$5,500,000.00 and reverse transfers to the Culture and Tourism Fund
unappropriated balance in the same amount;and
3. Amend the Fiscal Year 2023 Culture and Tourism Operating Budget and Fiscal Years 2023-2027 Capital Improvement Program.
DISCUSSION:
The purpose of this Mayor and Council Communication(M&C)is to eliminate interim capital financing and reverse transfers from the Culture and
Tourism(C&T)Fund associated with the renovation and remodeling of the Sheep and Swine Barn and Livestock Handling Facilities(Project)at
the Will Rogers Memorial Center(WRMC),and to adjust and increase allocations in the Fiscal Year(FY)2023 Culture and Tourism Fund operating
budget of Public Events Department(PED)to account for revenue collections in excess of the approved estimated budget,to correct
overages associated with unbudgeted expenses and to adjust the net use of fund balance to facilitate accordingly for year-end close.
M&C 23-0331,April 25,2023,and 23-0510,June 13,2023,collectively approved interim capital funding in the total amount of$5.5M for the award
of the Design Procurement Agreement(DPA)and advance procurement needs for components with long lead times through the Construction
Manager at Risk(CMAR)for the Sheep&Swine Barn project at WRMC. Funding was provided by and transferred from the fund balance of the
Culture and Tourism Fund to the project pending the sale and appropriation of the 2023 A&B Special Tax Revenue Bonds,which was approved by
City Council September 26,2023 in M&C 23-0792 and amended October 17,2023 in M&C 23-0950. This M&C eliminates the project
appropriations associated with that advance funding,which has now been replaced with bond fund appropriations,and reverses the advanced
funding transfers to the unappropriated balance of the Culture and Tourism Fund.
Funding for the Project was included in the FY2024-2028 Capital Improvement Program for year 2024,as approved in connection with ordinance
26453-09-2023,as replacement of the interim advanced capital transfer being reversed by the actions in this M&C,which amends the FY2023-
2027 Capital Improvement Program as approved in connection with ordinance 25773-09-2022. Funding for the reversal of the transfers from the
WRMC Sheep and Swine Barn project is available in the Culture and Tourism Capital Fund.
In addition to capital advances,anticipated need for the use of fund balance was also estimated for the annual true-up payment to Visit Fort Worth
(VFW.) VFWs annual base funding is paid in 12 equal monthly installments,calculated from budgeted projections of hotel occupancy tax(HOT
7%)revenues,and at the conclusion of FY2022 HOT 7%revenues exceeded budget expectations resulting in an unbudgeted true-up payment of
$1.6M being made to VFW in January 2023,ultimately causing a budgetary overage for FY2023 in the C&T operating fund as anticipated in the
PED fiscal month five budget forecast. The insufficient allocation to the current expenditure budget is corrected with the appropriation ordinance
approved by this M&C and as a result of the C&T fund both exceeding operational revenue expectations for the year,and realizing saving in other
expenditure categories,the net adjustment results in an overall decrease to the anticipated use of fund balance for FY2023 in the C&T fund.
A Form 1295 is not required because:This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that funds are currently available in the WRMC-Sheep and Swine Barn Ren project within the Culture&Tourism
Cap Projects Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance,funds will be
available in the Culture&Toursim Fund. Prior to an expenditure being incurred,the Public Events Department has the responsibility of verifying
the availability of funds.
Submitted for City Manager's Office by: William Johnson 5806
Originating Business Unit Head: Michael Crum 2501
Additional Information Contact: Pamela Rambo Sexton 2503